Salaries are likely to jump by an average 10.7 per cent in July-December, with e-commerce and life science sectors expected to hand out bigger pay packets, says a study conducted by Wisdomjobs.com.
The projected salary hike for 2016 is nearly the same as last year’s though the hiring figure so far this year has dipped in comparison with 2015.
As per the study, e-commerce tops the projected average salary hike list with 15.6 per cent, despite the recent slowdown. Life sciences is ranked second at 11.8 per cent, followed by media and entertainment (11.3 per cent), technology (10.9 per cent) and consumer products (10.5 per cent).
“In the second half of the year, companies are expected to sharply differentiate among high, average and low performers and implement variable pay plans that lay more emphasis on the organisation’s performance,” Founder and CEO of Wisdomjobs.com, Ajay Kolla, was quoted as saying to PTI.
Top performers stand to gain handsomely as they are expected to receive much more across sectors.
“With an increasing number of companies moving away from bell-curve appraisals, the onus will be on individual performance rather than the group’s median performance,” Kolla added.
Industries that could see minimum pay hikes are cement (9.5 per cent), transportation and logistics (9.2 per cent), telecom (9 per cent), metals and gems (8.8 per cent) and BFSI (8.5 per cent).
The study covered various industries across Delhi-NCR, Mumbai, Bengaluru, Chennai, Hyderabad, and Kolkata.